Dangote Petroleum Refinery has announced a major reduction in fuel prices, cutting Premium Motor Spirit, PMS by ₦100 per litre and Automotive Gas Oil, AGO by ₦190.
The gantry price of PMS has been lowered from ₦1,175 to ₦1,075 per litre, while coastal PMS prices dropped from ₦1,150 to ₦1,028 per litre. Diesel prices have also been adjusted downward from ₦1,620 to ₦1,430 per litre.
Managing Director of the refinery, David Bird, said the pricing review aligns with global crude oil market trends and reflects the company’s commitment to economic fairness and transparency.
Bird noted that all crude processed at the refinery is purchased at international benchmark prices with a small premium and paid for in foreign exchange at prevailing market rates, ensuring pricing remains market-driven without subsidies.
“While global oil prices have surged dramatically, from around $60 to nearly $120 per barrel within a week—Nigeria is insulated from fuel scarcity because of our domestic refining capacity,” Bird said.
He noted that fuel-import-dependent nations are facing panic buying, rationing, and price spikes, challenges that Nigeria can avoid thanks to the refinery’s consistent supply.
Bird described the price adjustment as part of the refinery’s long-standing effort to pass cost advantages directly to consumers. “In 2025 alone, we reduced our gantry prices on eight occasions and only increased prices twice,” he said, emphasising the refinery’s commitment to national economic stability and consumer welfare.
The Managing Director also highlighted that the refinery continues to meet national fuel demand even amid global supply shocks, rising freight charges, and increasing insurance costs caused by geopolitical tensions in the Middle East.
“What would be worse than $120 oil is no oil. Many countries are now rationing fuel due to total dependence on imports, but Nigeria now enjoys a secure and uninterrupted supply,” he explained.
Bird assured Nigerians that the refinery will maintain uninterrupted fuel supply as long as it continues to receive crude from the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL).
“With continued support from the government and access to local crude supply, Dangote Refinery will consistently meet all of Nigeria’s refined fuel requirements,” he said.
The refinery’s announcement is expected to reduce pressure on consumers across the 36 states and the Federal Capital Territory, reinforce confidence in domestic refining capacity, and further stabilise Nigeria’s fuel market amid global energy volatility.
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